I'd like to have Move Silently, but let's put the higher ranks in Listen and Spot and the lower ranks in Hide and Move Silently, since the racial bonuses and Dex modifier make the latter better.
Updated.
Look OK?
Well I guess since the original doesn't have an improved surprise chance it doesn't fit that well maxing out its stealth skills.
Still, the Stealthy feat and some points in Hide and Move Silently suits me. I'd rather the Move Silently was at least as good as its sense skills. Maybe move a rank from Listen to MS?
That'd give it ranks of Hide 6, Move Silently 5, Listen 3 & Spot 3, making the modifiers:
Skills: Escape Artist +13, Hide +12, Listen +8, Move Silently +9, Spot +9, Swim +9
Also, real-world blue-ringed octopuses (like most octopodes) are great climbers, and are known to climb out of the water to move over dry parts of the reef they live in.
So, give them a Climb speed (20 feet or so?) or a racial bonus to Climb?